Aristocrat Celebrates Strong First Half Results Following Rapid Expansion
LISTEN TO THIS ARTICLE:With the publication of positive financial results for the first half, it appears that Aristocrat Leisure’s expansion plans are having the desired effect.
The international online and land casino solution provider has been working to diversify its offering through a number of acquisitions. The latest figures show that the strategy is working, providing the company with financial stability. In particular, the company’s North American operations performed well.
Aristocrat held its H1 2023 earnings call earlier this week and announced that in the six months ending 31 March, revenues were $3.08 billion, up 12.2% from the same period last year. EBITDA was also up by 5.7%, reaching $1.03 billion.
The company’s pre-tax profits shot up by 42.6% to $852.8 million. After taxes, this is $653 million, meaning that Aristocrat has the resources with which to explore further growth through strategic investments.
As mentioned, Aristocrat Leisure’s North American operations have been key to its recent growth. Thanks to its partnerships, the company now has a presence in more than 55% of the US iGaming market and it aims to increase that figure to 70% within the next five years.
The company’s real money gaming division, Anaxi, had $42 million invested in its operations last year. Thanks to its high quality content, it has attracted partners such as Caesars and FanDuel. The importance of the division to the company was highlighted by its CEO and managing director Trevor Croker, “Our newest operating business, Anaxi, delivered on its initial market entry commitments and established sound foundations for growth.”
In a sign that it is putting its financial success to work, Aristocrat recently announced that it has plans to acquire NeoGames. If the deal goes through, it will be a huge boost to Aristocrat’s global reach and important to the company’s long-term performance.
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